Vicki Hollub
LOCKHEED MARTINAbout Vicki A. Hollub
Independent director at Lockheed Martin since 2018; age 65. Hollub is President & CEO of Occidental Petroleum Corporation (since 2016) with over three decades in operating roles across Oxy, including President & COO (2015–2016) and leadership of Americas and U.S. operations; she brings CEO leadership, financial expertise, international markets, M&A, and operational execution experience to LMT’s board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Occidental Petroleum (Oxy) | President & CEO | 2016–present | Led $55B Anadarko acquisition; decarbonization initiatives (CCUS) |
| Occidental Petroleum | President & COO | 2015–2016 | Enterprise risk, safety, operational stewardship |
| Occidental Petroleum | Sr. EVP; President, Oxy Oil & Gas – Americas | 2014–2015 | Oversight of Americas portfolio |
| Occidental Petroleum | EVP; EVP U.S. Operations & Oxy Oil & Gas | 2013–2014 | U.S. upstream operations leadership |
External Roles
| Organization | Role | Since | Committees/Notes |
|---|---|---|---|
| Occidental Petroleum | Director | 2015 | Current public company directorship; CEO |
| Lockheed Martin | Director (Independent) | 2018 | LMT Audit; Management Development & Compensation |
Board Governance
- Committee assignments: Audit Committee member (joined May 2024; committee meets 4x/year; designated SEC “audit committee financial expert”) ; Management Development & Compensation Committee member (3 meetings in 2024) .
- Independence: Board determined Hollub is independent under NYSE and LMT guidelines; all committees fully independent .
- Attendance: Board held 6 meetings in 2024; all directors attended 100% of assigned Board and committee meetings .
- Lead Independent Director & oversight framework: Board structure, executive sessions, risk oversight model and committee charters are robust; director stock ownership guidelines enforced .
Fixed Compensation
| Component (Most recent FY) | Amount | Detail |
|---|---|---|
| Annual cash retainer | $170,000 | Paid quarterly; includes committee chair/lead director fees when applicable; Hollub’s cash fees in 2024 were $170,000 (not a chair) . |
| Meeting fees | Not disclosed | Proxy indicates retainers; no per-meeting fees specified . |
Performance Compensation
| Equity Award | Grant Date | Units/Shares | Grant Date Fair Value | Vesting | Notes |
|---|---|---|---|---|---|
| Stock units (Directors Equity Plan) | Feb 15, 2024 | 401.7773 units | $170,000 (at $423.12 close) | 50% on Jun 30, 2024; 50% on Dec 31, 2024 | Dividend equivalents credited as stock units; payout at termination per director election . |
| Stock units (annual credit for 2025 cycle) | Feb 14, 2025 | 402 units credited | Not stated | Standard vesting per plan | No options granted; board requires equity in stock units since 2015 unless resolution changed . |
Performance metrics: None disclosed for director equity; awards are time-based stock units (no revenue, EBITDA, TSR, or ESG targets tied to director pay) .
Other Directorships & Interlocks
| Company | Role | Committee Roles |
|---|---|---|
| Occidental Petroleum | Director | Not specified in LMT proxy |
| Chevron (another LMT director: Debra Reed‑Klages) | External interlock at peer energy | Reed‑Klages is Audit Chair at Chevron; also on Caterpillar board . |
- Potential conflicts/related-party exposure: LMT broadly reviews related person transactions; none disclosed involving Hollub. Only specified related-person items involved other directors/executives (e.g., employment of relatives; payments to State Street/BlackRock for plan services) with no director material interest; no Hollub-specific RPTs noted .
Expertise & Qualifications
- CEO leadership, financial expertise, international business, M&A, operational execution, and supply chain excellence relevant to defense-industry transformation and LMT strategy .
- Audit Committee financial expert designation (SEC criteria) .
Equity Ownership
| Holding | Amount | Notes |
|---|---|---|
| Common stock | 3,134 shares | No shares pledged . |
| Stock units (Directors Equity Plan + deferred cash units) | 2,843 units | Includes 2,441 stock units from Directors Deferred Compensation Plan (deferrals of cash fees) . |
| Total reported (common + stock units) | 5,976 | No director/NEO owns ≥1% of outstanding LMT shares . |
| Ownership % of outstanding | ~0.0013% | Computed: 3,134 common / 234,573,049 shares outstanding (Record Date) . |
| Director ownership guideline | 5× annual cash retainer; met/on track | Directors must reach 5× cash retainer within 5 years; all non-employee directors met/on track as of 12/31/2024 . |
| Hedging/pledging | Prohibited | Company-wide anti-hedging/anti-pledging policy for directors/officers/employees . |
Insider Trades (Form 4 – 2024/2025)
| Filing Date | Transaction Date | Type | Security | Quantity | Post-Transaction Ownership | Source |
|---|---|---|---|---|---|---|
| 2025-02-19 | 2025-02-14 | A (Award) | Phantom Stock Units | 401.7108 units | 3,535.4319 units [insider-trades] | https://www.sec.gov/Archives/edgar/data/936468/000122520825002022/0001225208-25-002022-index.htm |
| 2025-01-03 | 2024-12-31 | A (Award) | Phantom Stock Units | 87.4593 units | 2,440.919 units [insider-trades] | https://www.sec.gov/Archives/edgar/data/936468/000122520825000159/0001225208-25-000159-index.htm |
- Section 16 compliance note: Two Forms 4 (one each for Burritt and Hollub) reporting phantom stock units from Q1 2024 cash retainer deferrals were filed one day late due to administrative timing; company identified and disclosed the minor delinquency .
Governance Assessment
- Board effectiveness: Hollub adds current CEO leadership and operational acumen; sits on Audit and Compensation, participates in risk oversight and strategy discussions; designated SEC audit committee financial expert—strengthens financial oversight .
- Independence & engagement: Independent under NYSE; 100% meeting attendance in 2024; participates in executive sessions and robust refresh process—positive investor signal .
- Alignment & incentives: Balanced director pay mix (50% cash/50% equity retainer); strong stock ownership guideline (5× cash retainer) and anti-hedging/pledging policy; no pledging; equity units vest on schedule and are delivered at/after board service termination per election .
- Conflicts/related-party: No Hollub-related person transactions disclosed; broader policy and review in place; cross-board energy industry presence via another LMT director (Chevron/Caterpillar) noted but no LMT transactional ties identified—low conflict risk as disclosed .
- RED FLAGS: None material disclosed. Minor Section 16 filing timeliness issue (one day late) was transparently reported; no hedging/pledging; no RPTs involving Hollub .